Exel Composites continues its strategy implementation as planned by starting strategic factory review in Belgium

EXEL COMPOSITES PLC          INSIDE INFORMATION          15 JANUARY 2024 at 09:15 EET

Exel Composites published its new strategy on 2 October 2023 including the plans to conduct a strategic review of three factories to define their role and necessity in the new operating mode. Exel completed the first of these reviews on 19 October 2023 by refocusing the role of the factory in the United States.

Exel has now decided to start a strategic review of its operations in Belgium. Exel expects to give an update on the progress of the review during the first half of 2024.

For further information, please contact:

Sanna Ahvenniemi, Head of Investor Relations, tel. +358 40 864 3000, sanna.ahvenniemi@exelcomposites.com

Exel Composites in brief

At Exel Composites, we use over 60 years’ experience to solve challenges and help customers save resources. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications from wind power and transportation to building and infrastructure.

Our collaborative approach and global footprint set us apart from our competition. We use our expertise to help customers reduce weight, improve performance and energy efficiency and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally.

Headquartered in Finland, Exel Composites employs approximately 650 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.

Exel Composites Plc